I have a 2007 Ford Focus that is worth almost nothing to trade in. Is it possible to trade it in when I owe 4000 on it. 621 credit score?
I have a 2007 Ford Focus that is worth almost nothing to trade in. Is it possible to trade it in when I owe 4000 on it. 621 credit score?
If you trade it in towards another vehicle they aill give you a lot more than its worth
The car is worth 4000 to you and you alone, keep running it until you've paid for it. Then junk it and start again.
It is possible, but the dealer will make money and you will pay and pay for this decision.
Pay it off and get another car. You are in a hole, stop digging.
Even if you found a dealer willing to take the vehicle as a trade in, they will only give you a few hundred $$; that means the balance of the loan on the Ford would be added to the new balance on the "new" vehicle, which results in higher payments, and so on… It's a vicious cycle til the loan is paid in full
Sure, but realized the $4k you still owe will not disappear. The dealer would tack that on to the price of the new vehicle and then some. In other words, you would be digging your financial hole even larger.
You can trade it in but will still owe the remainder of the loan.
You are underwater on the loan. The amount owed is more than it is worth. You can try to trade it in, rolling the existing debt into a new loan but with your credit rating you will be paying a high interest rate. I suggest you take care of the car, try to pay it off As soon as possible as paying off early helps your credit score. Then once it is paid for, see what you can do on a newer car. Look for one coming off a 3 year lease as it still is in good shape, most of the depreciation has occurred and there's still some factory warranty left.
You want to trade in a 11 year old car that you still owe $4k dollars on?
That will increase the cost of your new car by over $4k…
You can't trade in a car you don't own.
As the others have mentioned. You can trade it in. But it's likely worth less than you owe on it, so you would still have to pay back the lender the difference. How in the blue hell do you owe $4000 on an 11 year old car? I hope you didn't get it from one of those sketchy "buy here-pay-here" places.
- What are my chances of getting a loan from Ford for a 60K vehicle (600 credit score) and I make 98K a year? I have two credit cards both 10% utilization, and two loans approx 20K all together with payments at 350 each, rent is 600 a month and that is all I pay.
- Is Trump incorrect that Ford knew almost nothing about the fabricated incident set up to destroy a legitimate court nominee? Face it. She? Remembered some things that are usually forgotten and insignificant yet crucial to damn a man's character, yet forgot things most people would remember. . November's coming and these cheap, childish, jabs below the belt are NOT making the other party look particularly honorable. .
- Is it possible to trade my 2012 Ford Fusion for a small suv and camper? I have a 2012 Ford Fusion I'm thinking about trading it for a small SUV and camper. We're looking at purchasing a 31 ft. Travel trailer to live in over the next year or two It's just my husband and I. Is this something that could be worked out and if so how? Or would is it cause a financial loss to me? Is it more trouble than it is worth? Seeking knowledgeable responses please.
- How high does your credit score have to be to get a car? How high does your credit score have to be to qualify for a new 2014 ford focus and no down payment from a ford dealership?